Settlement pushes Delta Lloyd into red

Insurance group Delta Lloyd ended 2008 with a loss of €153m, due to a €300m out of court settlement with savers who had taken out expensive investment products.

Premium income was up 12% to €7.5bn and the company said it was particularly pleased at winning several large corporate pension contracts. But group profitability was also hit by the credit crisis and operating profit fell 68% to €142m.

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